European Union (Withdrawal) Act

Debate between John McDonnell and Vicky Ford

Thursday 6th December 2018 Commons Chamber

[John McDonnell]

My hon. Friend’s position is the same as mine: I campaigned for remain, but my constituency voted leave. People are looking for a compromise that will work; the problem with the Government’s proposal is that it will not work—and they know that.

I want to get something absolutely clear with the Chancellor. For the millions who work in the financial services, the deal and framework give no clarity on what any equivalence regime might look like. It damages the country politically and, most importantly, economically. We were initially told, and the Chancellor has repeated this today, that we would secure enhanced equivalence. Paragraph 38 of the framework starts:

“Noting that both Parties will have equivalence frameworks”.

Will the Chancellor confirm that an enhanced equivalence deal has been signed already? Enhanced agreement is what we were offered and promised by the Chancellor. There is no reference to enhanced equivalence, only to equivalence. That means greater insecurity for the finance sector, one of the key sectors of our economy.

[Vicky Ford]

Page 9 of the future framework agreement talks about

“suspension and withdrawal of equivalence decisions”

being agreed mutually. That is enhanced equivalence.

[John McDonnell]

With the greatest respect, that is not the definition of enhanced agreement. What we wanted written into any framework was a reference to “enhanced”, but that is not there. It does not give the security that the finance sector was promised.

Economy and Jobs

Debate between John McDonnell and Vicky Ford

Thursday 29th June 2017 Commons Chamber

[John McDonnell]

One of the warnings from the Institute for Fiscal Studies is that inequality will increase on such a scale if the Government’s austerity programme continues. Are Government Members really proud that we have a Government who cannot adequately house their population?

[Vicky Ford (Chelmsford) (Con)]

Will the right hon. Gentleman give way to a new Member?

[John McDonnell]

Certainly. Let me just finish this paragraph and then I will come straight to the hon. Lady.

Can the Chancellor be proud that 4 million children in this country are trapped in poverty? It is not just children; the latest figures show that 14 million people in the UK are living in poverty, including 2 million pensioners, the very people the Conservatives were going to hit with the end of the triple lock, means-testing for winter fuel payments and the introduction of a dementia tax.

[Vicky Ford]

The right hon. Gentleman talks about things that we should be proud of. According to the Office for National Statistics just this week, the UK has the fifth lowest level of persistent poverty of anywhere in Europe. Unlike when the last Labour Government were in power, when more than 1 million people had no job or education, we now have one of the lowest youth unemployment levels anywhere in Europe. Are those not statistics that we should be proud of?

[John McDonnell]

I find it astounding that there can be that sort of complacency when we have such levels of poverty, homelessness and, yes, people going without food. People have to choose between heating and eating every winter.

More than 80% of the Government’s austerity measures have fallen on women, but some of the hardest-hit people in the Chancellor’s record of pride have been disabled people. According to the Joseph Rowntree Foundation, almost half of those in poverty are disabled or live in a household with a disabled person. The brutality of the work capability assessment has now been associated with 590 suicides.